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Consolidated Statements of Income - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Interest income:        
Loans receivable $ 42,801 $ 35,220 $ 85,894 $ 63,576
Loans held for sale 13,522 6,715 24,422 11,798
Investment securities 2,253 2,543 4,616 5,583
Other 1,107 614 3,469 1,011
Interest expense: 59,683 45,092 118,401 81,968
Interest expense:        
Deposits 8,145 5,727 15,671 11,142
Other borrowings 1,496 1,184 2,984 2,340
FHLB advances 1,799 1,141 3,488 1,637
Subordinated debt 1,685 110 3,370 126
Total interest expense 13,125 8,162 25,513 15,245
Net interest income 46,558 36,930 92,888 66,723
Provision for loan losses 9,335 2,886 12,299 7,253
Net interest income after provision for loan losses 37,223 34,044 80,589 59,470
Non-interest income:        
Mortgage warehouse transactional fees 2,799 2,215 5,072 3,974
Bank-owned life insurance 1,169 836 2,230 1,670
Gain on sale of loans 827 572 2,058 571
Mortgage loans and banking income 287 1,554 438 1,963
Deposit fees 247 212 426 426
Gain (loss) on sale of investment securities (69) 359 (69) 3,191
Other 1,133 1,163 1,971 2,425
Total non-interest income 6,393 6,911 12,126 14,220
Non-interest expense:        
Salaries and employee benefits 14,448 11,591 28,400 20,942
Technology, communication and bank operations 2,838 2,305 5,369 4,470
Professional services 2,792 1,881 4,705 4,163
Occupancy 2,199 1,911 4,300 3,942
FDIC assessments, taxes, and regulatory fees 995 3,078 4,273 5,209
Advertising and promotion 429 428 776 843
Loan workout expense (income) (13) 477 256 918
Other real estate owned expense (income) (580) 890 304 1,242
Other 2,552 2,644 4,742 4,642
Total non-interest expense 25,660 25,205 53,125 46,371
Income before income tax expense 17,956 15,750 39,590 27,319
Income tax expense 6,400 5,517 14,082 8,945
Net income 11,556 10,233 25,508 18,374
Preferred stock dividend 507 0 507 0
Net income available to common shareholders $ 11,049 $ 10,233 $ 25,001 $ 18,374
Basic earnings per common share $ 0.41 $ 0.38 $ 0.93 $ 0.69
Diluted earnings per common share $ 0.39 $ 0.37 $ 0.88 $ 0.66